Dangote Cement to pay N340 dividend to shareholders

Dangote Cement Plc has revealed that its shareholders will receive about N340 billion dividend for the financial year 2022.

The shareholders at the Annual General Meeting, AGM slated for April 13, 2023 are expected to approve the dividend proposal by its Board of Directors.

In the notice of AGM signed by the Acting Company Secretary, Edward Imoedemhe, the company stated that it is giving notice to all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for receiving dividend payments electronically.

The cement company disclosed in the published notice that its ordinary business for the day will include: laying the Audited Financial Statements for the Year Ended 31 December 2022 together with the Reports of the Directors, Auditors and the Audit Committee thereon; declare a dividend; elect/re-elect Directors; authorise the Directors to fix the remuneration of the Auditors for the 2023 financial year; disclose the remuneration of Managers of the Company and also elect shareholders’ representatives of the Statutory Audit Committee.
The AGM will also consider and if thought fit, fix the remuneration of the Directors.

In the financial statements of the organisation for 2022, the gross earnings for the Group increased to N1.6 trillion from the N1.4 trillion recorded in the preceding year due to the higher revenue generated from cement and clinker sales, with a significant chunk coming from the domestic market. The company’s revenue also increased by 21 per cent to N1,205 billion as against N993 billion recorded for the preceding year.